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The Global Solar Energy Market is Expected to Grow

NEW YORK, October 23, 2017 /PRNewswire/ --

According to a report published by Global Market Insights, the global solar energy market size was valued at over USD 65 billion in 2015 and is expected to exceed USD 140 billion by 2023. The report indicated that increasing environmental concerns such as greenhouse gas emission drives the green energy market. More than 600 GW of power is estimated to be installed over the forecast period. Application of solar energy can be used in both commercial and residential segments. Commercial applications include major installations in hotels, hospitals, and offices. Residential applications include attic fans, batteries & chargers, pool heaters and water heaters. Solar Integrated Roofing Corporation (OTC: SIRC), SunPower Corporation (NASDAQ: SPWR), JA Solar Holdings Co., Ltd. (NASDAQ: JASO), Enphase Energy Inc. (NASDAQ: ENPH), Canadian Solar Inc. (NASDAQ: CSIQ)

According to another report from Global Market Insights, U.S. solar panel market size is expected to witness significant growth from 2016 to 2023. The report indicated descending solar prices is one of the drivers of the market. Residential markets such as Hawaii, California, Massachusetts and Arizona are expected to experience highest growth rates and less industry fluctuations during the forecast period, while California is expected to lead the U.S. solar panel market by market size.

Solar Integrated Roofing Corporation (OTC: SIRC) announced last week that they have entered into a national agreement with TPO, third-party-ownership and finance company, to enhance their financing options for their solar and roofing customers. "Bottom line, we have basically eliminated any financial roadblocks for our customers to go solar. This agreement will make our expansion into new areas much easier and more streamlined," said CEO Dave Massey. "Under these types of arrangements, a resident or business hosts a renewable system that is owned by a separate investor."

The company is working with Sunrun and offering their financing to all of Solar Integrated's clients. The homeowner simply pays a low, locked-in rate for the power that's produced, typically saving 20% on their electric bill.

"This arrangement helps us expand our footprint," added Massey. "Electric utility companies have sent letters to consumers recently, warning of California-Mandated High Usage Charges going into effect next month. These surcharges can dramatically increase electric bills. Our range of financing and TPO options now makes it easy for our customers to decide to go solar, because in every case, they will be saving money from day one. It simply makes no sense to not go solar."

SunPower Corporation (NASDAQ: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. The company recently announced that it will supply 291 megawatts of its high-efficiency solar panels to projects awarded in the second round of France's CRE tender process, which includes ground mount, carport and roof top projects in continental France and storage and self-consumption in the country's ZNI (non-interconnected zones). Compared to conventional panels, E-Series solar panels produce 30 percent more energy in the same space over the first 25 years. SunPower's direct current E-Series solar panels, as well as its X-Series solar panels, are Cradle to Cradle Certified™ Silver. SunPower is the only solar panel manufacturer in the world to achieve this designation, which demonstrates a product's quality based on rankings in five categories: material health, material reutilization, renewable energy use, water stewardship, and social fairness.

JA Solar Holdings Co., Ltd. (NASDAQ: JASO) is a world leading manufacturer of high-performance solar power products that convert sunlight into electricity, for residential, commercial and utility-scale power generation. JA Solar, the world's top cell producer since 2010, has firmly established itself as a leading module supplier. Capitalizing on its strength in solar cell technology, it is committed to provide modules with unparalleled conversion efficiency, yield efficiency, and reliability to enable customers to maximize the returns of their PV projects. On August 22, 2017, the company announced its unaudited financial results for its second quarter ended June 30, 2017. Total shipments were 2,389.2 megawatts, consisting of 2,147.5 MW of modules and 167.2 MW of cells to external customers, and 74.5 MW of modules to the Company's downstream projects. External shipments were up 88.3% y/y and 68.3% sequentially

Enphase Energy Inc. (NASDAQ: ENPH), a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world's only truly integrated solar plus storage solution. The company recently announced that it has been named the #1 residential PV monitoring vendor in North America by GTM Research and market intelligence firm SOLICHAMBA, based on total capacity of residential PV systems monitored in the first half of 2017. With over 140 patents, Enphase continues to drive differentiation through innovation and meet the changing needs of residential solar customers. Enphase is the world's leading provider of microinverters, with approximately 15 million installed in more than 661,000 systems around the world.

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. Recently, the company announced that a wholly owned subsidiary of the Company and a few subsidiaries of Menora Mivtachim Holdings Ltd., one of Israel's five largest insurance and finance groups, entered into a joint venture agreement with the aim to invest in the development, financing, construction and ownership of solar power projects in Israel.

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